The Vatican elects a new pope about once every 10 years. Coincidentally, or not, reborn Corvettes follow the same cadence. Speculation about the next high priest of the Milford proving ground has consumed the faithful for the past few years, only intensifying in the lead-up to the car’s official reveal at this year’s North American International Auto Show. Now, weeks before the silk comes off, we have sleuthed out all the important secrets of the seventh-generation Corvette, a.k.a. C7.

Chief engineer Tadge Juechter and his team spent 2007 developing a radical mid-engined Corvette. Alas, their undisclosed discoveries, GM’s bankruptcy, the melting of the polar ice cap, and other negative vibes have again moved that revolution far into the future. So C7 is an evolution of the C6 design, albeit a comprehensive one. In keeping with tradition dating to 1955, a front-mounted pushrod V-8 will power this sports car. But fret not, Vette brethren: the C7 news that follows is good enough to induce cold sweats in Zuffenhausen.

To meet an ambitious 3000-pound weight target, C7 is constructed like an aircraft. The three-rail space frame GM patented for C5 continues with major improvements. The hydroformed-aluminum main members developed for Z06 and ZR1 are now standard across all C7s, an upgrade enabled by transferring frame manufacturing from an outside supplier to the Corvette’s Bowling Green assembly plant. Carbon-fiber (CF) floor and bulkhead panels adhesively bonded between the central backbone and the perimeter rails augment structural stiffness. We also expect CF to replace all the sheet-molded fiberglass exterior panels. A single-piece lift-off roof—a Corvette feature since 1984—remains standard on the coupe.

Chevy’s not-so-subtle hint confirming the move to CF came with last fall’s presentation of the new crossed-flag emblem on a black woven-cloth backdrop. CF has trickled down to the sub-$60,000 price range thanks to streamlined manufacturing processes implemented by supplier Plasan Carbon Composites that have reduced costs by 60 percent. Also, minor visual flaws are not an issue for the structural panels that live on the Corvette’s dark side, further trimming cost.

Die-cast magnesium crossmembers provide rigid attachment points for the power­train, suspension, steering column, and instrument panel. Nearly all driveline and suspension pieces are aluminum castings or forgings, as before. Likewise, the fiberglass-reinforced plastic leaf springs in use under Corvettes for three decades carry on. Electrically assisted rack-and-pinion steering is standard while special features such as ­magnetorheological dampers and Brembo carbon-ceramic brake rotors are reserved for upper-echelon Z06 and ZR1 models due in a couple of years.

While C7 maintains the basic proportions of its immediate predecessor, the visual drama shifts to the side view. The B-pillar is subdued, for a smoother, sleeker flow to the greenhouse and roofline. This stretches C7’s visual length without adding bulk or weight. That the Ferrari F12berlinetta shares the tapering side-glass motif won’t be lost on Corvetteheads. (The renderings here were created some weeks back for our January print issue. Compare them to drawings, presumably from the car's owners' manual, that leaked out the day after Christmas—we think we did pretty good.)

Two features previewed by a 2009 Chicago auto-show concept car—a split rear window and the hallowed Stingray nameplate—won’t appear at C7’s christening, but don’t rule them out. When the Corvette needs a pick-me-up and a fuel-economy boost later in the decade, the iconic tail treatment and name combo could add luster to a 30-plus-mpg (highway) model powered by a 400-hp 5.5-liter V-8.

We’ve heard that Michelin has won the long-running war against Goodyear for base Corvette tire fitment, and the French brand’s Pilot Sports have been spotted on C7 test mules in New Mexico. Given the 10-percent cut in curb weight, slightly narrower rubber should serve the new car nicely.